EUR/USD Weekly Forecast – 08 February – 12 February
It was a steadier beginning of the last week for euro, but pair was pushed higher after investors started to believe that Fed is not likely to rise interest rates again soon. Pair broke weel above recent consolidation range, and even broke above 1.12 handle. However, after NFP figures, pair pulled back to 1.11 handle- As for next week, with no major data releases both from Eurozone and the USA, we believe that we can expect a bit less volatile sessions. Pair is likely to find support around 1.10 handle, as this was previosuly major resistance, while area around 1.1250 handle should offer some amount of ressitance, as break above this area, would mark that pair could much higher.
On a long-term basis, we do not have interest in selling this pair at the moment. We would like to see break above last week's highs before placing any larger buying biuds, but we also believe that supportive candles around 1.10 and 1.1050 handle could offer nice buying opportunity.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419